<< You have no idea how Mr. Ficalora resnts what happened to ALL the investors as a result of the interest rate imbroglio. >>
Could be true, Wazoo, but then NYB mgmt. owed it to the shareholders to:
(1) explain what went wrong and why
(2) tell who put the trade on and who approved it
(3) explain why a local thrift lender was engaging in hedge-fund style bond bets
(4) expain why they bought out RSLN for a steep premium when RSLN had no other suitors.
(5) why the folks who mismanaged RSLN were allowed to run amock at NYB
Don't bother answering that jerk. He couldn't see the value in a longterm investment if it bit him in the leg.
I congradulate you for castigating him at every turn. He's a bigot and continues to take unwarrented pot shots at the company.
Best of luck
Perhaps...but JRF is determined to restore all the past losses.
You have no idea how Mr. Ficalora resnts what happened to ALL the investors as a result of the interest rate imbroglio.
Give a chance Kal...
Wait until the 19th...
We have the upgrade in place...no back door here -
I've come to the conclusion that JRF can do NO right with you - that is sad and closed minded.
A BIG SHOT, Wall Street dude like you should take a wait and see attitude, write it off or sell out!
I noticed that the Ryan Beck analyst actually reduced his earnings estimates for '05 & '06.
He is counting on a 14X multiple in '06.
That's a backhanded way of saying we're not going to see the kinds of multiples (9X - 11X) that are more typical at the trough of the cycle.
What's missing is some sign that Joe&Co. can goose the expected earnings back over $1.50 anytime soon.
That might drive a few shorts to cover.
The good ol' boys played golf together.
Let's make a deal. Don't worry, you'll be taken care of.
And so if was, from Tsimbinos to Mancino and on and on and on.
And then we had the gamble on interest rates.
And then unloading the bonds, instead of holding them. A double wammy. Great move.